Avaii Wealth Management LLC Has $4.11 Million Stake in Apple Inc. (NASDAQ:AAPL)

Avaii Wealth Management LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,413 shares of the iPhone maker’s stock after selling 142 shares during the period. Apple accounts for approximately 2.0% of Avaii Wealth Management LLC’s holdings, making the stock its 17th largest holding. Avaii Wealth Management LLC’s holdings in Apple were worth $4,110,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bull Oak Capital LLC increased its holdings in Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares in the last quarter. Christopher J. Hasenberg Inc increased its stake in shares of Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after buying an additional 144 shares during the period. SPX Gestao de Recursos Ltda acquired a new stake in shares of Apple in the 3rd quarter valued at $71,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Apple in the 3rd quarter valued at $77,000. Finally, ARK Investment Management LLC acquired a new stake in shares of Apple in the 3rd quarter valued at $110,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

Shares of Apple stock opened at $212.69 on Wednesday. The firm has a market cap of $3.20 trillion, a price-to-earnings ratio of 33.76, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. The stock’s 50-day moving average is $233.31 and its 200-day moving average is $233.60. Apple Inc. has a one year low of $164.08 and a one year high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were issued a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.47%. Apple’s dividend payout ratio (DPR) is 15.87%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AAPL. Argus raised Apple to a “strong-buy” rating in a research note on Friday, January 31st. Needham & Company LLC reissued a “buy” rating and issued a $260.00 target price on shares of Apple in a research note on Friday, January 31st. Monness Crespi & Hardt lifted their target price on Apple to $245.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Raymond James lifted their target price on Apple to $250.00 and gave the company a “buy” rating in a research note on Monday, January 20th. Finally, Loop Capital lowered Apple from a “buy” rating to a “hold” rating and set a $230.00 price target on the stock. in a research report on Tuesday, January 21st. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $243.65.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.